In the United States, businesses have legal obligations to maintain accurate financial records, including invoices. Keeping these records is not only a legal requirement, but also essential for maintaining the financial health of a company.
Cost centers are an essential part of controlling and cost accounting in companies. They are used to make costs more transparent and to make decisions on a sound basis. In this article, you will learn what cost centers are, what advantages they offer and how they are used in the company.
As an accountant, it is important to understand all aspects of financial management. One of the most important tasks is the creation of accruals. In this article we explain what accruals are, why they are necessary, what to look out for and how to calculate them.
A hospitality receipt is a template used to document a business meal or other hospitality event with clients or potential clients. This is important in order to later be able to deduct these expenses from your taxes. Whether you are a freelancer or an entrepreneur of a corporation is irrelevant for this entertainment receipt.
Reverse charge in Germany is a procedure that allows buyers to pay their taxes directly to the government instead of through the seller. This can be advantageous in certain situations, but also involves complicated rules and regulations that must be properly followed.
The income statement (P&L) and the balance sheet are two basic financial documents prepared by companies to analyze their financial position. But what is the difference between the two and when should they be used?
Anyone who travels a lot for work must submit a travel expense report from time to time. This is used to get reimbursed for the costs of a business trip. You should make sure that all the information is correct, because an incorrect travel expense report can have consequences.
Incoming invoices are an important part of a company's accounting, as they contain information about the goods and services purchased and the associated taxes. Knowing the different tax rates on incoming invoices is essential for accountants in Germany to ensure that they make correct entries and do not run any tax risks.